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SSC CGL Exam  >  SSC CGL Tests  >  Test: Tax Structure - SSC CGL MCQ

Test: Tax Structure - SSC CGL MCQ


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10 Questions MCQ Test - Test: Tax Structure

Test: Tax Structure for SSC CGL 2024 is part of SSC CGL preparation. The Test: Tax Structure questions and answers have been prepared according to the SSC CGL exam syllabus.The Test: Tax Structure MCQs are made for SSC CGL 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Tax Structure below.
Solutions of Test: Tax Structure questions in English are available as part of our course for SSC CGL & Test: Tax Structure solutions in Hindi for SSC CGL course. Download more important topics, notes, lectures and mock test series for SSC CGL Exam by signing up for free. Attempt Test: Tax Structure | 10 questions in 10 minutes | Mock test for SSC CGL preparation | Free important questions MCQ to study for SSC CGL Exam | Download free PDF with solutions
Test: Tax Structure - Question 1
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Under the "Objectives behind Taxation," what is one of the non-revenue objectives of taxation mentioned?

Detailed Solution for Test: Tax Structure - Question 1
One of the non-revenue objectives of taxation is income redistribution. Taxation is used to reduce inequalities in the distribution of income and wealth, aiming for a more equitable society. This is achieved by imposing taxes in a way that higher-income individuals contribute proportionally more to the government's revenue.
Test: Tax Structure - Question 2
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What type of tax is Goods and Services Tax (GST) in India?

Detailed Solution for Test: Tax Structure - Question 2
Goods and Services Tax (GST) in India is an example of an Indirect Tax. It is levied not on income, profit, or revenue but on goods and services consumed by the taxpayer. GST replaced various indirect taxes, such as service tax, sales tax, value-added tax (VAT), central excise duty, and customs duty.
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Test: Tax Structure - Question 3
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What major taxation-related reform is introduced by the Taxation Laws (Amendment) Ordinance 2019 for existing domestic companies?

Detailed Solution for Test: Tax Structure - Question 3
The Taxation Laws (Amendment) Ordinance 2019 introduced a concessional tax regime of 22% for all existing domestic companies from FY 2019-20 if they do not avail any specified exemption or incentive. This is aimed at promoting growth and investment.
Test: Tax Structure - Question 4
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What is the Faceless E-assessment Scheme, 2019 designed to achieve?
Detailed Solution for Test: Tax Structure - Question 4
The Faceless E-assessment Scheme, 2019 is designed to streamline the communication between taxpayers and Assessing Officers by eliminating the interface between them. This enhances efficiency and transparency in the assessment process.
Test: Tax Structure - Question 5
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What does the Document Identification Number (DIN) aim to bring to the functioning of the Income Tax Department?
Detailed Solution for Test: Tax Structure - Question 5
The Document Identification Number (DIN) aims to bring efficiency and transparency to the functioning of the Income Tax Department. It ensures that every communication issued from a certain date has a computer-generated unique identification number, enhancing accountability and transparency.
Test: Tax Structure - Question 6
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What is the tax-to-GDP ratio in India according to the 2016 Economic Survey?
Detailed Solution for Test: Tax Structure - Question 6
According to the 2016 Economic Survey, India's tax-to-GDP ratio is 16.6%, which is significantly lower than the average of 21% in emerging market economies and the 34% average in OECD nations.
Test: Tax Structure - Question 7
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What is the direct to indirect tax ratio in India?
Detailed Solution for Test: Tax Structure - Question 7
The direct to indirect tax ratio in India is approximately 35:65. This means that a notable portion of the tax revenue comes from indirect taxes compared to direct taxes.
Test: Tax Structure - Question 8
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What is the Vivad se Vishwas Act, 2020 designed to address?
Detailed Solution for Test: Tax Structure - Question 8
The Vivad se Vishwas Act, 2020 is designed to provide relief to taxpayers by resolving pending tax disputes. It aims to benefit both the government and taxpayers by generating timely revenue and reducing litigation costs.
Test: Tax Structure - Question 9
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What does the Raising of monetary limit for filing of appeal aim to achieve?
Detailed Solution for Test: Tax Structure - Question 9
The raising of the monetary limit for filing of appeal aims to effectively reduce taxpayer grievances and litigation. It helps the Income Tax Department focus on litigation involving complex legal issues and high tax effects.
Test: Tax Structure - Question 10
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What does the abolition of Dividend Distribution Tax (DDT) aim to achieve?
Detailed Solution for Test: Tax Structure - Question 10
The abolition of Dividend Distribution Tax (DDT) aims to increase the attractiveness of the Indian Equity Market by providing relief to investors, making the dividend income taxable only in the hands of recipients.
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Important Questions for Tax Structure

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